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grandymaker [24]
3 years ago
6

Suppose you deposit 1000 in account paying 3% annual interest compounded continuously use a equals PERT to find a balance after

10 years
Mathematics
1 answer:
lorasvet [3.4K]3 years ago
5 0

Answer:

$1349

Step-by-step explanation:

Given data

Principal= $1000

Rate= 3%

Time= 10years

Applying the formula

A=Pe^rt

where e is the mathematical constant approximated as 2.7183

substitute

A=1000*2.7183^0.03*10

A=1000*2.7183^0.3

A=1000*1.349

A=1349

Hence the final amount after 10 years is

$1349

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